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rational choice theoryfocuses on individual choice in situations of uncertainty and explains outcomes in the international political economy on the basis of individual actors' preferences. Within this framework, actors are assumed to be utility maximizers who attempt to maximize their gains while minimizing their losses. The rational actor carefully calculates costs and benefits before choosing the best path of action.The IR or IPE version of this theory became known as game theory and attempted to develop theoretical and mathematical instruments to analyze and predict actor behavior in situations of uncertainty and scarcity.The concept of the rational and utility maximizing actor has become widely accepted in IR and IPE theory. States, non-state actors and individuals are assumed to act within certain parameters of behavior that privilege decisions based on maximizing self-interests, however defined.

Q)3.Describe the rational choice theory.